1987 Fleer Jordan PSA-10 price drop by 50% in 1 month
natetrook
Posts: 613 ✭✭✭
From 30,000 to 15,000 in 1 month. Ouch.
https://www.ebay.com/itm/373614776236?hash=item56fd2d0fac:g:kEQAAOSwcaVgx6D6
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which is why i havent posted many monthly pick ups lately. it was straight sell anything i wasnt attached to or couldnt replace. prices across the board were unprecedented. some may never be that high again as long as im still on this planet. another month or two itll be time to buy it all back for $.25 on the dollar.
what about people who were buying 1990 Fleer boxes for $400?
Irrational exuberance.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
“yall come back now, ya hear!”
Everything is collapsing in sports cards. The “tulip” craze is over??
My collecting blog: http://ctcard.wordpress.com
i wouldnt say its over. a lot of cards still going way up. the ridiculous party on high print stuff is over though.
This thought process is not rational. Of course, watching my cards appreciate 20% every week was not rational either lol. I suspect we’ll settle somewhere in the middle of these two extremes.
That still might be higher than pre pandemic prices. Hold out for .15 on the dollar.
I don't think it is any coincidence that when prices were soaring to insanity, submissions went from soaring to warp speed. when PSA does catch up and all the massive flood of subs have to be paid for with many of the items from the investors coming back underwater, that is when things will get interesting.
I also wonder if some people walk away from their subs 6 months from now when they have 10K in submission fees to pay for cards that will only be worth 2K even if they all 10. We see all the games that get played on eBay, it wouldn't surprise me to see canceled credit cards so that they can't be charged.
gotta think that 80% of the backlog are cards at $10-$15 a pop. that price point alone coupled with $25 - $30 floor and in who knows when that even opens will prolly thwart that, i would think.
I am not going to pretend to understand the ultra modern game. wasn't bulk moved to $15 in october? does the flood of those base cards still hold value in 9's and 10's ? I was more talking on the 2020 base stuff that people were sending in 50-100 card lots.
as for all the $10 pre-80's no one is walking away from that. 80's and 90's is probably still worth it for most things. and you are right that the floor is probably $25/30 so not many of these pre-2000 cards will be submitted going forward.
card averaged $7,500 bucks last year. still a nice return and will shoot up again someday.
As John Maynard Keynes stated “The stock market can remain irrational longer than you can remain solvent.” That said eventually the fundamental tenant of supply and demand always reigns supreme. As has now been proven Trading Cards are no exception.
Junk Wax cards as whole still have plenty of room to fall. Many Junk Wax cards will go drop down below pre-pandemic levels as full on panic phase of bubble ensue's.
P.S. I consider start of Junk era as 1981 for Fleer + Donruss and 1982 for Topps. Of course there are some sets from the time frame that do not fall into the Junk Era classification.
It's the singer not the song - Peter Townshend (1972)
I think both points are valid. There will cases of those who refuse to pay $10K in fees on cads that have lost most of their artificially inflated value. There will be leaner times for PSA again, perhaps a good way to retain true collectors and mitigate some of that effect is to consider down charge a submission to current going rates the same as they do with an up-charge. I know that will never happen...
It's the singer not the song - Peter Townshend (1972)
never woulda pegged you as a bostonian! 😉
I was speaking to a good customer of mine today who said he recently went to a small card show. Around 30 tables he said.
He said he had heard about the card boom, and wanted to take his son to the show to buy some cards.
Usually when the general public is on to it, and they start jumping in on the buying action, it can signal the end of a boom, in anything.
But who knows? We shall see.
Wow. PSA 9's were selling for 50 grand a few months ago. What happened?
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
Oh wait, this is about 87 not 86 lol.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
i think w covid, it may extend the end of the downward boom. i have friends that have booked trips to the national just to go that havent been in the hobby since kids. they are super pumped and surprised i wasnt going. i didnt want to spoil their fun! 😉
but with all the previous hype about the boom and the country finally opening back up, i think card shows will have an influx like this. for a little while at least. i imagine the show will be as hectic as ever and dealers will have to be EXTRA patient this year. everyone is gonna be filming for content, asking to hold high dollar cards to video and all sorts of newer type stuff since the social media boom emerged.
Thankful for some of the know-it-alls on these boards jumping down my throat for trying to sell my PSA 8 Jordan rookies on here for $7,000 last summer when comps were at $6,500+. I instead threw them up on ebay and sold one of my 8s a few months later for $27,500 and then one of my 7s for $17,500. I kept my other two 8s for the next boom. I was willing to sell all 4 for $23,000 on the boards at that time, but from the bottom of my heart, thank you so much for helping me cash out.
Brian
I just probably bought near the peak (for now) the most expensive card I ever purchased. I still welcome any and all price drops. I spend what I can on cards - and as long as the list of cards I wish I had is larger than the list of cards I have - I hope everything goes down. I will never get to the point where that is not the case. If every card dropped to 5% of current value I could move from 50's and 60's cards to Goudey and Tobacco cards. I could own some sweet Babe Ruth and Ty Cobb cards! 1951 Bowman Mays PSA 8 - here I come! Would probably pick up an Aaron rookie at The National. If they stayed at that low price for the next 20 years my collection would surpass my wildest dreams. So what if my collection goes down an immense amount - the collection I would end up with would bring me immense enjoyment.
The 87 Jordan was about 3K in early 2020 so for those who still have theirs, even at 15K, that’s still a massive win. Even if they still drop to 10k.
Good points!
Now there is this "delta" version of the corona virus lingering out there. So who knows what's going to happen out there with that?
All i know for sure is that I'm holding on to my cards. I don't own any of that super expensive chit that the rich boys play with anyway. If the value of my cards pulls back a bit for various reasons, then it pulls back. I'm still way up in value on it, and i continue to see cards as an excellent long term investment. Of course along with the great enjoyment of the hobby. A win-win in my view.
I'm starting to dip my toes in the water (cautiously). I've picked up a couple of cards at about a 60% discount from their high. If they drop some more I will dollar-cost-average and pick up more of each.
I love the card but I would not even consider paying 15k for it if I had it liquid in my card budget. I think I would pay 5k though.
As far as the overall market stuff like this and the 1000s of Update and Prizm cards need to come down from their heights. The stuff I collect seems to be holding pricing or harder to find.
I buy and sell a lot but only to push my collection. I think there needs to be a normalization to this market after this bubble. It was all too much too fast
Prices will hit higher highs eventually. No way of really knowing when though. Buy what you like and can afford. I have bought when prices were shooting higher and as prices dropped to the floor, it all evens out in the long run.
Robb
I knew those prices were unrealistic when they were happening. I own both a Jordan rookie and sticker. Together at the peak they were $25k cards. Before? 10k on their best day. Today? Back to 10k. I guess I could have sold , or tried to and then purchased them again. We know the supply will never run out.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
Market corrections are healthy.
I was buying fast & furiously throughout 2020 to fill want items before I'd get priced out. My 2020 purchases as a whole are up 70% in value.
A lot less buying this year; 2021 purchases (values) are down 5%.
The trend has been up for many years and will continue that way.
Hobbyists will be able to reenter after getting priced out of their higher end wish list.
it is interesting. before covid there were a few monthly shows around. now there is a monthly show almost every weekend and multiples on some weekends all with 50 miles of me. Feels like 1988 all over again. For a while the hype carries things and then there is burn out. Maybe this time is different. I think we are seeing the same with the auction houses. 2 years ago I could put together a good calendar to not miss anything. Today it is almost impossible to not miss some auctions unless you this is your full time job, or you are retired with no family. when I see an auction house have weekly , monthly and quarterly auctions it is tough to keep up. not to mention the hoard of new auction houses popping up every day.
If only there was some type of related product that would only decrease over time.
Imagine what would happen to the market if Fritsch sank his warehouse in the Atlantic.
CAD
It's the singer not the song - Peter Townshend (1972)
I nearly completely bowed out from sports card when the craziness began. Now I wonder with grading fees going so high and realized prices coming down, will we see that the grading companies have overplayed their hands? They may be good for a year or two with people still trying to cash in on grading but even grading costs have knocked some people out of the game/hobby. What will happen over the next year or two may become very interesting to watch.
Overplayed? They are in the card grading business, not the long term card storage business.....
The stuff I collect seems to be holding pricing or harder to find.
Totally agree, and am seeing the same.....of course I think we may collect many of the same cards :-) I did join the party late with PSA and have purchased many cards that have dropped some...mostly bought this year...the cards from last year are still up. The HOF cards on the inexpensive side are getting harder and harder to find.
NFL HOF Set
https://www.psacard.com/psasetregistry/publishedset/398345
Im sorry....what??
He’s saying that PSA imposed the policies they did because otherwise they would have people’s submissions sitting around for two years. Whether or not those policies ultimately benefit them long term doesn’t change the fact that they were necessary now to get things under control. If they find submissions are dropping off steeply, they can always revisit incentivizing policies. Nothing is written in stone.
Its called Topps Now, Topps Living and all on demand Topps products.